January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: RockyBalboa who wrote (438)	5/5/2003 11:28:21 PM
From: Londo	Read Replies (1) of 666

Some idiot left a dangling ask of FIVE HUNDRED contracts on the Hang Seng at 8877 (this is a huge offer size, the largest I've ever seen traded on the contract) and it got chipped away slowly, and then I, when the ask sized dropped, chipped away at for a couple contracts.. when the guy who left that ask there discovers what a mistake he made after the lunch session he'll have to cover back long again and take an absolute hit. I'll be dumping end of day no matter what. 500 contracts is just an insane amount to be left on the Hang Seng. The HKFE does have a block trade facility that should take care of this kind of stuff, but it's obvious that somebody screwed up here.

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